Future Capital Partners - insight & innovation
05 November 2009

Climate Change summit urged to back biofuel growth

BiofuelsDelegates to next month's UN Climate Change conference in Copenhagen have a 'historic opportunity' to recognise the benefits of biofuels, a leading industry body said today.

In a statement, the Global Renewable Fuels Alliance (GRFA) urged delegates to help develop strategies 'to ensure that biofuels play an even greater role in meeting climate change objectives'.

Ahead of the conference, the GRFA has released an Industry Position Paper calling for greenhouse gas (GHG) reduction strategies in the transportation sector that 'take advantage of the verifiable emission reductions available from biofuels'.

"With transportation responsible for 25% of the world's GHG emissions and rising, it is critical that biofuels form the core of any future mitigation strategy in this important sector," said Bliss Baker, spokesperson for the GRFA.

"Developing countries have an even greater opportunity with the adaptation of sustainable biofuels programs," declared Mr. Baker. "Adopting sustainable biofuels programs can deliver real GHG reductions while reducing a crippling reliance on imported fossil fuels for many developing nations," added Mr. Baker. "This is a unprecedented opportunity for those countries with abundant land mass."

In order for biofuels to play a meaningful role in climate change strategies the GRFA said it is calling on all governments to adopt biofuels friendly policies, which should include binding targets 'wherever appropriate'.

The GRFA is also calling on all governments and international bodies to take into account the increasing efficiency of global biofuels production in developing policies as opposed to relying on 'out-of-date data and outdated arguments'.

Among the other recommendations made by the group is a call for aggressive R&D tax policies that encourage the direct investment in new biofuel technologies.

Source: F.O. Licht's World Ethanol & Biofuels Report